Bill Would Let Advisors Halt Suspicious Transactions to Protect Seniors from Financial Abuse

SPRINGFIELD – There is legislation in Springfield that aims to fight financial abuse against the elderly. A bill filed by state Sen. Steve Stadelman looks to protect seniors from being financially exploited. The bill would give investment advisors the power to delay transactions if they suspect any red flag activities could result in seniors or people with disabilities being taken advantage of. The Rockford Democrat said one in every five seniors has been a victim of these types of scams.